Jinling Mining to transfer iron ore exploration rights to Jinshun Mining
2026-09-23 11:14:29 [Print]
Jinling Mining announced on September 22 that it plans to transfer the exploration rights for the Dazhang iron ore deposit in Qihe County, along with related exploration engineering, claims, debts, and personnel, as a consolidated asset package to its wholly-owned subsidiary, Shandong Jinshun Mining, on a non-compensatory basis.
The transfer will use August 31, 2026 as the benchmark date, with the asset package carrying a book value of approximately RMB161 million (USD24.02 million) (unaudited). The move is an internal resource consolidation within the company's consolidated financial statements, aimed at streamlining project management structure and improving operational efficiency. It will not adversely affect the company's operating results, nor does it constitute a major asset restructuring or related-party transaction. Upon completion, the company will continue to hold 100% equity in Jinshun Mining.
The transfer will use August 31, 2026 as the benchmark date, with the asset package carrying a book value of approximately RMB161 million (USD24.02 million) (unaudited). The move is an internal resource consolidation within the company's consolidated financial statements, aimed at streamlining project management structure and improving operational efficiency. It will not adversely affect the company's operating results, nor does it constitute a major asset restructuring or related-party transaction. Upon completion, the company will continue to hold 100% equity in Jinshun Mining.
